Great Lakes Advisors LLC Buys Shares of 41,864 Alcoa $AA

Key Points

• Great Lakes Advisors acquired 41,864 Alcoa shares worth approximately $2.18 million in the second quarter, while institutional investors collectively own 82.39% of the company.
• Alcoa reported quarterly earnings of $2.12 per share, below the $2.25 analyst consensus, on revenue of $3.97 billion versus the $3.99 billion estimate. Analysts expect full-year EPS of $6.55.
• Alcoa declared a quarterly dividend of $0.10 per share, equivalent to a 0.8% annual yield. Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $61.09.

Great Lakes Advisors LLC acquired a new stake in shares of Alcoa (NYSE:AA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 41,864 shares of the industrial products company's stock, valued at approximately $2,183,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AA. Basepoint Wealth LLC acquired a new position in shares of Alcoa during the fourth quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Alcoa in the 2nd quarter worth approximately $25,000. Advisory Services Network LLC acquired a new stake in Alcoa during the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock worth $31,000 after buying an additional 581 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new position in Alcoa in the first quarter worth approximately $35,000. 82.39% of the stock is currently owned by institutional investors.

Alcoa Stock Performance

Shares of AA opened at $51.83 on Friday. The firm has a market cap of $13.68 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 0.57 and a beta of 1.63. The company's fifty day moving average is $50.14 and its 200-day moving average is $60.25. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. Alcoa has a 12 month low of $29.49 and a 12 month high of $84.38.

Alcoa (NYSE:AA - Get Free Report) last posted its earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the company earned $0.39 earnings per share. Equities analysts expect that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. Alcoa's dividend payout ratio (DPR) is currently 8.23%.

Analyst Ratings Changes

AA has been the subject of several recent analyst reports. Royal Bank Of Canada set a $70.00 target price on shares of Alcoa in a report on Wednesday, July 1st. Weiss Ratings upgraded Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, June 17th. Argus lowered their price target on Alcoa from $73.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Zacks Research cut Alcoa from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. Finally, B. Riley Financial dropped their target price on Alcoa from $92.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $61.09.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company's operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa's product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.

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